Fidelity National Information Services Rating Cut To 'BB', Off CreditWatch, Outlook Stable - S&P Global Ratings’ Credit Research

Fidelity National Information Services Rating Cut To 'BB', Off CreditWatch, Outlook Stable

Fidelity National Information Services Rating Cut To 'BB', Off CreditWatch, Outlook Stable - S&P Global Ratings’ Credit Research
Fidelity National Information Services Rating Cut To 'BB', Off CreditWatch, Outlook Stable
Published Sep 17, 2007
617 words — Published Sep 17, 2007
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About This Report

  
Abstract:

NEW YORK (Standard&Poor's) Sept. 17, 2007--Standard&Poor's Ratings Services said today it lowered its corporate credit rating on Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS) to 'BB' from 'BB+' and removed the rating from CreditWatch where it was placed on June 27, 2007, with negative implications. The outlook is stable. At the same time, Standard&Poor's assigned its loan and recovery ratings to the company's $1.6 billion term loan B. The loan is rated 'BB+' (one notch higher than the corporate credit rating on the company), with a recovery rating of '2', indicating the expectation for substantial (70%-90%) recovery in the event of a payment default. Proceeds from the term loan will be used to

  
Brief Excerpt:

RESEARCH Fidelity National Information Services Rating Cut To '##', Off CreditWatch, Outlook Stable Publication date: 17-Sep-2007 Primary Credit Analyst: Philip Schrank, New York (1) 212-438-7859; phil_schrank@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
FIS
Issuer
Fidelity National Information Services Inc.
GICS
Data Processing & Outsourced Services (45102020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Fidelity National Information Services Rating Cut To 'BB', Off CreditWatch, Outlook Stable" Sep 17, 2007. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Fidelity-National-Information-Services-Rating-Cut-To-BB-Off-CreditWatch-Outlook-Stable-602549>
  
APA:
S&P Global Ratings’ Credit Research. (). Fidelity National Information Services Rating Cut To 'BB', Off CreditWatch, Outlook Stable Sep 17, 2007. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Fidelity-National-Information-Services-Rating-Cut-To-BB-Off-CreditWatch-Outlook-Stable-602549>
  
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